TL;DR
This is a proposal to register xcWBTC as an XC20 that will be used for bridging scheme: Ethereum <-(Multichain)-> Moonbeam <-(XCM)-> Equilibrium
Summary
Equilibrium dev team in cooperation with Moonbeam and Multichain developed a solution for cross-chain transfers without user additional transactions on Moonbeam by using xTokens system contract. This enables user-friendly asset transfers between EVM networks like Ethereum, Polygon, etc, and Polkadot ecosystem Parachains.
Multichain is one of the most robust bridging solutions for bridging assets between different ecosystems. We are collaborating with Multichain through Moonbeam to enable the transfer of assets between Equilibrium and other ecosystems. And we will use this bridge to deploy WBTC, WETH, and USDC.
This integration will help improve our user experience as other ecosystem assets will be easily transferable to Equilibrium.
You can get more information from Equilibrium 24h Community Call with guests from Moonbeam and Multichain teams
- 24h Community Call: Community Call #24 - YouTube
- 24h Community Call Recap: Equilibrium: 24th Community Call Recap | by Equilibrium | Equilibrium | Medium
Link to the on-chain proposal: Polkassembly
